This shows a slight decline of 1 percent compared to the previous year.
Published date- 12 February 2024, 05:16 pm
Hyderabad: According to the latest findings of Knight Frank India, registration figures in the real estate market in Hyderabad remained stable in January, with a total of 5,411 residential properties registered during the month.
This shows a slight decline of 1 percent compared to the previous year. However, the total value of properties registered increased 24 per cent year-on-year (YoY) to Rs 3,279 crore, indicating a shift towards higher value property transactions.
In terms of property pricing, there has been a significant increase in registrations of properties priced at Rs 1 crore and above, which accounted for 14 per cent of registrations in January, up from 8 per cent in the same period last year.
Most of the registered properties in January remained in the 1,000 – 2,000 sq ft range, accounting for 71 per cent of registrations. Meanwhile, demand for small homes less than 1,000 sq ft declined, with registrations falling from 19 per cent in January 2023 to 16 per cent in January 2024.
Among the districts, Rangareddy emerged as the leading contributor to registrations in January 2024, capturing 43 per cent of the total, followed by Medchal-Malkajgiri with 42 per cent. Hyderabad district’s share in total registrations during the same period was 15 percent.
Apart from bulk transactions, there has been a notable trend for home buyers to invest in larger, higher priced properties with enhanced amenities and facilities. Some significant transactions in markets like Banjara Hills, Somajiguda, Puppalaguda and Narsingi highlight this trend.
The report also indicates a shift in development activity towards 3-bedroom units. In January 2024, 81 per cent of apartment launches in Hyderabad were for 3-BHK units.
January 2023:
– <25 lakh: 19%
– 25-50 lakh: 53%
– 50-75 lakh: 13%
– 75 lakh-1 crore: 6%
– 1 Crore-2 Crore: 7%
– >2 Crore: 1%
– January 2024:
– <25 lakh: 15%
– 25-50 lakh: 47%
– 50-75 lakh: 16%
– 75 lakh-1 crore: 8%
– 1 Crore-2 Crore: 11%
– >;2 Crore: 3%
Top 5 transactions of the month:
1. Name of District: Hyderabad
– Location: Banjara Hills
– Area Limit (Sq. Feet): >;3,000
– Market Price (INR): 5,16,72,400
2. District Name: Rangareddy
– Location: Puppalaguda
– Area Limit (Sq. Feet): >;3,000
– Market Price (INR): 5,09,95,750
3. District Name: Rangareddy
– Location: Narsingi
– Area Limit (Sq. Feet): >;3,000
– Market Price (INR): 4,43,87,815
4. Name of District: Hyderabad
– Location: Somajiguda
– Area Limit (Sq. Feet): >;3,000
– Market Price (INR): 4,22,18,000
5. Name of District: Hyderabad
– Location: Somajiguda
– Area Limit (Sq. Feet): >;3,000
– Market Price (INR): 4,22,18,000